The truth is that reckless US consumers took down the world? I cannot even begin to fathom the lack of intelligence required to make such a statement.
Will Americans become the jews of the 21st century? http://www.elitetrader.com/vb/showthread.php?s=&threadid=146214&highlight=jews
I blame stock_trd3r, because of his immense credibility. Workers and retirees around the globe kept buying the stocks he pumped 'cuz they felt he knew how stocks werk. Werd.'
Reckless consumer spending? Sure consumers spent money they did not have and that was reckless. But let us not forget reckless consumer spending was preceded by reckless Gubmint spending. The Gubmint been spending money they did not have for a long, long time. But what is more important, consumers were recklessly spending money recklessly lent them by financial institutions so leveraged up that come to find out they did not have the money either that was being lent out. Show me a Gubmint official who doesn't know what he is talking about, and I will show you another elitist, just pissing in the wind in the process pissing all over himself.
He's right. I cannot even begin to fathom the lack of intelligence needed to not see that. Of course. But let's also not forget that the US is a vibrant democracy and those reckless politicians were in fact elected and re-elected by the reckless consumer for the purpose of bringing home the Gubmint bacon.
Took down the world? That's rather extreme. While the US consumers didn't single handedly "take down the world" as you put it, there is no denying they certainly played a large part. Consumers in other countries also lived beyond their means and contributed to the mess as well, it was just magnified in the US due to it's relative size.
Doesn't matter how extreme or any truth in it. The idea behind is to link the Liberal Party ideology to US consumers in order to scare Canadians about the opposition party in case there is an election soon.